KUALA LUMPUR (June 11): AllianceDBS Research said Supermax Corp Bhd (Supermx) had on June 10 traded lower to RM8.33 before closing at RM8.55 (down 10 sen or 1.15%).

In its evening edition June 10, the research house said Supermx continued to trade above 20-day (blue) and 50-day (red) moving average lines.

It said following the down close on June 10, the stock is likely to move lower with immediate support at RM8.20.

“A fall below RM8.20 would put pressure on the stock down to the subsequent support at RM6.70.

“The hurdle is pegged at RM8.90. A crossover of RM8.90 should see further price rise to the next overhead resistance at RM9.30, it said.

AllianceDBS Research said stock volume traded on June 10 was 15.4 million shares compared to the 3-month average volume of 25.5 million shares.